PUBLISHED : 10 Jan 2025 at 06:25
The Department of Energy Business reports a 2% increase in total fuel consumption for the first 11 months of the past year, reflecting the slow economic growth forecasted at 2.6-2.7% for 2024. Daily fuel consumption averaged 155 million litres.
Gasoline and gasohol consumption rose slightly by 0.2% year-on-year, reaching 31.5 million litres per day. This increase is attributed to shifts in travel behavior, as more individuals transition from internal combustion engine vehicles to electric vehicles (EVs), which saw a growth of 5.39% in passenger car sales.
Mass transit systems also experienced a surge, with passenger numbers climbing by 12.1%.
Diesel demand remains strong, posting a year-on-year increase of 2.4% to 66.6 million litres per day, powered by robust economic activities, particularly in the export sector.
Jet fuel consumption has surged by 18.4% year-on-year to 15.7 million litres daily, propelled by the revival of tourism, which welcomed 31.9 million foreign visitors—an increase of 28.2% during the same period.
Moreover, government initiatives to boost domestic tourism led to an 8.6% rise in local travelers.
Liquefied petroleum gas (LPG) usage increased by 3.4% year-on-year to 18.4 million kilograms a day, driven by rising demand in the petrochemical, household, and transportation sectors.
Conversely, demand for compressed natural gas (CNG) declined by 16.7% year-on-year to 2.7 million kilograms per day due to a reduction in registered CNG vehicles and the closure of several filling stations. Despite this, price caps have been implemented by the sole CNG supplier, effective from July 2024 through December this year.
Additionally, Thailand’s imports of crude oil, refined oil, and LPG have risen by 1.2% year-on-year to 1.03 million barrels per day, while refined oil exports increased by 4.4% to 186,067 barrels per day.
